Senate Shelves CLARITY Act, Leaving Crypto Regulation in Limbo

The U.S. Senate has shelved the CLARITY Act (H.R.3633), redirecting floor time to Russia-related legislation, CoinDesk reported July 27, 2026. The bill — which would make the CFTC the primary crypto regulator and define when platforms are "sufficiently decentralized" — cleared the Banking Committee 15-9 on May 14. The SEC and CFTC now continue asserting overlapping jurisdiction, leaving crypto platforms and stablecoin issuers in regulatory limbo.